EG Group to Acquire Cumberland Farms

By: Abasto Magazine
 
WINSTON-SALEM, N.C. - Aug. 1, 2019 - PRLog -- EG Group has entered into a binding agreement for the acquisition of Cumberland Farms. The company operates approximately 600 convenience retail stores and fuel stations across seven north-east states and Florida and employs 9,000 people.

Having had no presence in the USA prior to April 2018, the purchase of Cumberland Farms will take the EG Group's network to a total of nearly 1,700 stores across the country, operating in 30 states and retailing over 2.5 billion gallons of fuel with merchandise sales of more than $3 billion on an annualized basis.

Mohsin Issa, Founder and co-CEO, EG Group added "The acquisition of Cumberland Farms is a transformative one for our US business.  It brings us greater scale and a well-established network in locations we do not currently serve that is highly complementary to our existing US store footprint.  We believe that the Cumberland Farms portfolio comprises some of the very best convenience stores within the USA and we are delighted they will form part of the EG family".

Cumberland Farms opened… To read the complete story, click on this link: https://abasto.com/en/news/eg-group-to-acquire-cumberland-farms/?utm_source=PRLog&utm_medium=PR&utm_campaign=eg_cumberland

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Tags:Convenience Stores
Industry:Retail
Location:Winston-Salem - North Carolina - United States
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